When a company is, or is likely to become insolvent, there are options for a potential restructure of the business so that the business may continue trading into the future rather than being closed down. It is important, however, to obtain the right legal advice to ensure that a director is acting in accordance with his or her director’s duties and that the proposed restructure is lawful and not liable to being unwound and set aside by an insolvency practitioner.

Our firm can assist in the restructuring of a business, and we have acted in complex restructures involving several entities within a particular group. It is often the case that there are various competing interests of all relevant stakeholders, creditors, debtors and a group as a whole which must be managed appropriately. Accordingly, it is imperative to obtain the right advice prior to embarking on a proposed restructure of a business. In the event that the right advice is not obtained from the outset, then this can be catastrophic for the directors of a company and may ultimately lead to the business closing down. Lastly, there are obligations of directors at law that must be considered in any proposed restructure.

Contact us to ensure you are gaining advice from one of the leading insolvency law firms on the Gold Coast and in Brisbane for help.